Perlu Products, an IFRS reporter, reported a write-down loss of $65,000 for one of its plant assets

Question:

Perlu Products, an IFRS reporter, reported a write-down loss of $65,000 for one of its plant assets on December 31, 2018. The asset is currently held for disposal. At December 31, 2019, the fair value of the asset increased by $90,000. Can Perlu record a recovery? Prepare the journal entry lo record the recovery if it is permitted.

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